Blockchain
technology is the current talk of the town, and for good reasons. It's
beneficial for all kinds of businesses, extending its usage far beyond the
lanes of cryptocurrency. For this reason, the world is seeing the emergence of
more and more skilled developers who are proficient with blockchain
services. One such blockchain development
company in Kolkata is Wordsys Information Technology.
They've been
in the business for years with several satisfied and happy clients. If you're
still new in this industry or looking for a reliable company, Wordsys is the
right solution for you. Read further to know what is blockchain technology
exactly and how can Wordsys help you-
What is
Blockchain Development?
The merits of
blockchain for business are based on four characteristics that are unique to
the new tech:
● Consensus: Distributed ledgers are modified only once all parties concerned
have validated the activity.
● Replication: When a block – a record of an event — is accepted, it is
replicated across all ledger accounts for all service players. Every network
participant has access to a single "trusted reality" of the events,
which they may examine and exchange.
● Immutability: More blocks can be created but not withdrawn, ensuring a
permanent record of each transaction and increasing relationships with
stakeholders.
● Security: Blocks can only be created by authorized entities, and they can
only be accessed by approved entities. Access is granted only to trusted
parties.
How Can
Wordsys be of Help?
- Blockchain
Architecture
Our in-house
blockchain developers have extensive knowledge of how blockchain works and
build upon an appropriate architecture for your company's success. They're well versed in core topics like
cryptography, consensus, hash functions, distributed ledgers, smart contracts, and any other ideas integral to understanding blockchain's fundamentals.
They're also familiar with the four types of blockchain architecture-
consortium, private, public, and hybrid.
- Cryptography
In order to
prepare a secured blockchain environment, our team of experts has a strong
understanding of cryptographic solutions and practices. They can successfully
build wallets, keys, and digital signatures for a smooth experience. They know how
to use public-key cryptography to prevent unwanted data access. They can also
grasp the differences between cryptographic systems functions of SHA-256 and
Keccak-256.
- Data
Structures
Data
structures make up the overall blockchain platform. Each part can be thought of
as a form of the data model for the open ledger's operations. Our developers in
Wordsys can comprehend how the blockchain technology handles these data
structures and are also conversant with graphs, heaps, hash trees, Patricia
trees, and Merkle trees, among other data structures.
- Smart
Contracts
Smart
contracts are self-executing agreements that allow two participants to acquire
goods and commodities without the need for a third party to act as a mediator.
Smart contracts have become a common feature of blockchain applications, and
our programmers are familiar with them and understand how they impact the
business rules. Smart contract programming languages, such as Vyper, Solidity,
and Chaincode, are already known to blockchain engineers.
- Web
Development
With blockchain's
focus on distributed systems, blockchain and web development operate as sides of
the same coin. All areas of web development should be covered by blockchain
specialists. That's what makes us stand
out from the crowd because our developers are not only aware of how to design
and construct online apps, but also identifying how to optimize and protect
them using the technology that underpins them.
Blockchain
Technology: The Future is Now!
All the five
capabilities mentioned above are necessary for a successful blockchain
development company. Luckily, our team of experts in Wordsys are not only
brimming with the talent to build a blockchain environment, but they can also
comprehend
DevOps
methods, use source control in a collaborative setting, participate in code
reviews, write efficient and secure code, and keep current on developing
technologies.
They have
excellent cross-disciplinary skills and a solid understanding of open standards
and interoperability technology. Plus, they're equipped with soft skills such
as communication and collaboration to work well in today's Agile development
environments.